List of Life Insurance Companies in India

The life insurance sector in India is regulated by the “Insurance Regulatory and Development Authority of India (IRDAI),” which approves and supervises all insurers in the country. Most life insurance companies now offer a range of life insurance policies. Every insurance company has different benefits and premium rates for various types of customers. If you choose the right company to handle your insurance needs, you don't have to worry about not getting the right coverage or a quick settlement if you need to file a claim. This is the full list of life insurance companies that have been registered with IRDAI up to this point. Let's look at the list of the best life insurance companies in India in 2025.

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Life Insurance Companies In India 2025

Here is a list of the Life Insurance Companies in India and their respective Claim settlement ratios for the financial year 2024-25, as issued by IRDAI.

Life Insurance Companies in India	Claim Settlement Ratio (FY 2024-25)
Aditya Birla Sun Life Insurance Company	99.65%
Ageas Federal Life Insurance Company	97.03%
Aviva Life Insurance Company	98.98%
Axis Max Life Insurance Company	99.7%
Bajaj Life Insurance Company	99.3%
Bandhan Life Insurance Company	99.7%
Canara HSBC OBC Life Insurance Company	99.2%
Edelweiss Life Insurance Company	99.23%
Future Generali India Life Insurance Company	96.15%
HDFC Life Insurance Company	99.7%
ICICI Prudential Life Insurance Company	99.3%
IndiaFirst Life Insurance Company	96.92%
Kotak Mahindra Life Insurance Company	98.61%
Life Insurance Corporation of India Company	98.74%
PNB MetLife India Insurance Company	97.33%
Pramerica Life Insurance Limited	98.30%
Reliance Nippon Life Insurance Company	98.67%
Sahara India Life Insurance	97.08%
SBI Life Insurance Company	99.4%
Shriram Life Insurance Company	82.39%
Star Union Dai-ichi Life Insurance Company	97.42%
Tata AIA Life Insurance Company	99.4%

To find a complete list of approved life insurance companies in India, visit the IRDAI (Insurance Regulatory and Development Authority of India) website.

Disclaimer: The list of insurers mentioned are arranged according to the alphabetical order of the name of insurance company respectively. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. The list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in

**Disclaimer: Policybazaar does not rate, endorse or recommend any specific insurance provider or insurance product offered by any insurer.

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How To Choose The Ideal Life Insurance Company In India?

The following are some of the important factors to consider before choosing Life Insurance Company in India for yourself:

Claim Settlement Ratio (CSR): CSR shows how many claims an insurer has settled against the total registered in a financial year. A higher ratio indicates better reliability.
Customer Support: Choose a company that offers 24/7 customer support. With prompt assistance, you can ensure that all your queries and issues are handled smoothly during the policy term.
Reviews from Customers: Go through feedback and reviews from existing policyholders. Customer experiences will give you an idea about the company's service quality.
Available Riders: Riders like the critical illness rider, the Accidental Death Rider, and the Waiver of Premium rider, etc, are offered to increase the coverage of your life insurance policy. Before choosing a life insurance company, ensure that the company offers riders as an option.
Solvency Ratio: The solvency ratio is a way to figure out how well a company can meet its long-term financial obligations. A higher ratio means that the company is financially strong. According to IRDAI rules, every insurance company must have a solvency ratio of at least 1.5.
Policy Flexibility: Options for premium payment modes, fund switches (in ULIPs), or adding riders make policies adaptable to your changing needs over time.
Digital Convenience: Make sure you can manage your policy online. Not only it makes it easy to manage your policy, but it also gives you access to apps or portals for paying your premiums, filing claims, and managing your documents, which makes life easier.

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Benefits of Buying Life Insurance In India 2025

There are many good things about buying life insurance. It protects your family financially and gives you a financial shield and a way to plan for the future. Here are some good things about having life insurance in 2025:

Financial Protection:
The main purpose of life insurance is to keep your family's money safe in case something happens to you. The payout makes sure that your family can keep living their lives without having to worry about money too much. It covers both their daily needs and their long-term goals.
Paying off Loans:
If you haven't paid off your loans yet, like your home, car, or personal loan, they can be a burden on your family when you're not there. Life insurance pays off these debts so that your family doesn't have to worry about how to pay them back.
Income Replacement:
Most households have one or two key earners. Life insurance serves as an income replacement tool to ensure that the family's way of life and standard of living could be maintained through regular payouts or a lump sum.
Creation of wealth:
Certain types of life insurance policies combine protection with investment, such as Unit Linked Insurance Plans and endowment policies. In such plans, your wealth is built over time, providing both coverage and potential for your money to grow.
Tax Incentives:
Under Section 80C of the Income Tax Act, you can deduct some of the premiums you pay for life insurance from your taxes. Also, maturity benefits or death benefits are usually tax-free under Section 10(10D), but this may change depending on the situation. Life insurance is not only a way to protect yourself, but it is also a great way to save money on taxes.
Planning for retirement:
Life insurance can also be used as a source of income during retirement. Pension or annuity schemes provided by insurance companies yield a regular stream of income after retirement to help you secure and maintain financial independence in your later years.

Wrapping it Up

India's life insurance sector is well-regulated by IRDAI, with 24 registered companies offering policies that cater to different protection, savings, and investment needs. From high claim settlement ratios to diverse product options and useful riders, these insurers allow customers to choose a plan that fits their financial goals. When selecting the best insurance company in India, key parameters to consider include CSR, solvency ratio, support services, and customer reviews. A trusty life insurance company protects your loved ones' future and provides you with a stress-free experience during the policy period.

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FAQs

Q: What types of life insurance companies are there in India?

Ans: Many life insurance companies in India offer a range of policies, including term life insurance, whole life insurance, endowment plans, and unit-linked insurance plans (ULIPs).
Q: What factors should I consider when selecting the Best Insurance Company in India?

Ans: Before buying a life insurance policy, you should check the company's reputation, financial stability, product range, claim settlement ratio, customer service, and how affordable the premiums are. Checking these factors in advance makes sure that you have chosen one of the top insurance companies in India.
Q: Is it possible to change my life insurance plan with any of the companies in India?

Ans: Yes, there are a number of life insurance companies in India that offer plans that are made to fit the needs of each person. People can make plans that work best for them with these kinds of plans.
Q: How many life insurance companies are listed in India?

Ans: The IRDAI says that there are 24 life insurance companies in India that offer a range of plans at different prices to meet different needs.

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˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

Rs. 400/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 400/month (Rs.13/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 230 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 12/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 497/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 487/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 626/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 905/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,267/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.

+Rs. 447/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs.679/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 910/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,924month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

Women

+Rs. 400/month is Starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.

1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 years of age.

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale

Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.

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